Hi team,
I have known about cash in hand negative issues in this group, but in cash basis accounting process of this Manager, should not it. If i practice cash basis, how can i paid excess amount from my current cash balance?
Thanks
You must have recorded more cash out (payments) then cash in (receipts).
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I don’t have enough cash, Manager have to made a warning about this negative. i think it is an uncontrolled cash management.
Periodically or after you enter transactions it would be appropriate to check the balance of a cash account. The balance may be incorrect even if it hasn’t gone into negative but I don’t think a warning is necessary if the negative balance itself indicates an error.
Remember that Manager is an tool that assist you to do your accounting. If you are creating payments from any account, whether cash or bank account, it will go in negative. It is not the responsibility of an accountant/bookkeeper to ensure that the transactions recorded in the books are accurate.
You need to be performing your reconciliations regularly
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Manager is onjy recording the payments and receipts.
If your cash balance is goung negative, then you are not recording all the payments and receipts that actually took place.
Rather than look to Manager for a warning, you should be examining your accounting and business workflows and orocedures to see why you are not recording all the transactions correctly and in the right order
After all, Manager is only reflecting what you enter - if you do not enter the receipts correctly, it is not the software’s fault
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Somehow this is impossible. If you record all your cash payments and receipts when they occur you can never have negative cash, i.e.more than empty pockets. As @Joe91 indicates the bookkeeping and accounting entries are your responsibility.
I side with @subrosumon There are users who moved from other accounting software to Manager and are expecting to see certain features they relied on in the other applications in Manager, these include:
- Warn when inventory items in a particular location will be negative after a transaction has been completed.
- Warn when cash balance will be negative after a transaction is processed.
This prompt them of a need to reconcile the bank account, deposit funds into a bank account or use a different bank account. In the case of inventory items, it reminds users to place an order for more items or transfer excess items in one location to the other to enable a sale/production with items or materials from that location.
I understand if programming challenges wouldn’t allow @lubos to implement such a feature right now but if that is not the case and this could be added, I do not see why this shouldn’t be added or resisted. So many users are not accountants and do not have the time. They just want to enter transactions and expect the accounting software to warn them of certain things. They expect “Manager” to be a Managing tool.
A warning could be like this:
There is at least one inventory item that will have a negative balance after posting this transaction
Do you want to proceed?
YES. NO.
The Bank/Cash Balance will run negative after this transaction. Are you sure you want to proceed?
YES. NO
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